Original publication date: May 20, 2020
Question:
During client creation, there is a field in the core COS API called "riskRating". Is this field set by the client (i.e. the business which is setting up the integration), or is it specific to the client being onboarded? What should be entered for this field?
Answer:
The value of the field ("Low", "Medium" or "High") depends on the client being onboarded and the agreement they reached with CRB. The risk rating is determined by CRB's risk team based on the bank's Know Your Customer(KYC) program.
For specific information, please contact Jesse Honigberg <jhonigberg@crossriver.com> at CRB.